Chinese Fintech Firm; 13% downturn in Hong Kong debut

Bairong Inc. a Chinese fintech firm drop during its Hong Kong debut, the second listing in the financial hub this week to disappoint following a global selloff in China’s technology sector.

Shares of the artificial intelligence-powered technology platform fell by as much as 13% to HK$27.55 in Hong Kong. The company had priced its shares at HK$31.80 each in the IPO offering, the high end of its indicated range. (Bloomberg, Yu)

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